Indian Economy-News & Updates

[Śakra]

Lol at all the people saying it would tank to 0% even...and way past a quarter. They have all gone strangely silent now.....well maybe not so strange

Has there been any positives to demonetization?

 

[Nilgiri]

Has there been any positives to demonetization?

Yep, higher tax base has already been realised. This is part of the reason why GDP growth has not been impacted.

GVA is down to 6.7% growth but higher tax and lower subsidies has led to GDP being 7 % growth. In a way demonetisation positive is already kicking in:

http://www.business-standard.com/ar...owth-beats-note-ban-blues-117022800844_1.html

Chief Statistician T C A Anant said, “Lower GVA has been compensated for by higher taxes and lower subsidies.”

It will kick in further in further quarters. In fact how much of the GDP boost later is from GST and from demonetisation will be an interesting debate.

By end of march we will have the final figure for how much the govt collected from its ongoing investigation of suspicious accounts....and that should be a major indication of how much buffer it will have to add to Rupee value/liquidity/NPA help etc..

 

[Śakra]

Yep, higher tax base has already been realised. This is part of the reason why GDP growth has not been impacted.

GVA is down to 6.7% growth but higher tax and lower subsidies has led to GDP being 7 % growth. In a way demonetisation positive is already kicking in:

http://www.business-standard.com/ar...owth-beats-note-ban-blues-117022800844_1.html

Chief Statistician T C A Anant said, “Lower GVA has been compensated for by higher taxes and lower subsidies.”

It will kick in further in further quarters. In fact how much of the GDP boost later is from GST and from demonetisation will be an interesting debate.

By end of march we will have the final figure for how much the govt collected from its ongoing investigation of suspicious accounts....and that should be a major indication of how much buffer it will have to add to Rupee value/liquidity/NPA help etc..

Exciting times! Just imagine where we would have been if we didn't have UPA II.

 

[Nilgiri]

Exciting times! Just imagine where we would have been if we didn't have UPA II.

We would have at least crossed 3 trillion USD in nominal with much more jobs.....and quite possibly be around 4 trillion I feel....esp if UPA-I also didnt happen (and pro-growth, pro-jobs administration NDA continued).

This year and next will be very crucial years for Indian economy "chunk" of 5 years.

 

[ranjeet]

Central govt to hire 2.8 lakh more staff, police, I-T & customs to get lion’s share

The Centre in its Budget has provided for the recruitment of around 2.80 lakh more staff.

The income tax department, the agency involved in the drive against black money post-demonetisation, is set to expand from the existing strength of 46,000 to 80,000 by March 2018. Similarly, customs and excise department, which will implement the ambitious goods and services tax regime, will get additional manpower of over 41,000. The current strength of 50,600 for customs and excise staff is to go up to 91,700.


A review of the "estimated strength of establishment" in the Budget annexures indicates no change in the manpower of railways, the single largest employer (13.31 lakh) other than defence, in the three years till 2018. Departments of space, atomic energy, cabinet secretariat and the ministries of information and broadcasting and external affairs are some others where sanctioned strength has gone up significantly.


The government had projected to increase its manpower in 2016 by 1.88 lakh but failed to make fresh recruitments in I-T, customs and central excise departments. This led to an erosion in the employee base by at least 21,000 over the strength in 2015. People superannuating far exceeded new employees.


PM Naredndra Modi's interest in foreign policy has translated into a significant jump in the strength of the foreign ministry where the government has decided to add over 2,000 employees — up from 9,294 in 2016 to 11,403 in 2018. The I&B ministry, too, has increased its sanctioned strength from 4,012 two years ago to 6,258 in 2018. The cabinet secretariat has been strengthened with manpower to go up from 921 to 1,218 by next year.

http://timesofindia.indiatimes.com/...utm_medium=Twitter&utm_campaign=show&from=mdr

 

[Hindustani78]

The Union Minister for Railways, Shri Suresh Prabhakar Prabhu launching the Indian Railways Freight and Passenger Business Action Plan -2017-18, at a function, at the National Rail Museum, in New Delhi on March 02, 2017. The Chairman, Railway Board, Shri A.K. Mital, the Member Traffic, Railway Board, Shri Mohd. Jamshed and other dignitaries are also seen.

The Union Minister for Railways, Shri Suresh Prabhakar Prabhu flagging off the confirmation trial of Double Stack Dwarf Container Train under wire - a New Delivery Model, through video conferencing from National Rail Museum, in New Delhi on March 02, 2017. The Chairman, Railway Board, Shri A.K. Mital, the Member Traffic, Railway Board, Shri Mohd. Jamshed and other dignitaries are also seen.

The Union Minister for Railways, Shri Suresh Prabhakar Prabhu flagging off the demonstration run of Ro-Ro (Roll on – Roll off) service across the National Capital Region- A Pilot project of Indian railways for ‘Green Transportation’ – to reduce road congestion and improve environment, through video conferencing from National Rail Museum, in New Delhi on March 02, 2017. The Member Traffic, Railway Board, Shri Mohd. Jamshed and other dignitaries are also seen.

The Union Minister for Railways, Shri Suresh Prabhakar Prabhu addressing at the flag-off/inauguration of the following services/activities namely:1. Launch of Policy of ‘Long Term Contracts’ with major customers 2. Launch of Indian Railways Freight and Passenger Business Action Plan - 2017-18, 3. Flag-off the confirmation trial of Double Stack Dwarf Container Train under wire- a New Delivery Model 4. Flag-off the demonstration run of Ro-Ro (Roll on – Roll off) service across the National Capital Region- A Pilot project of Indian railways for ‘Green Transportation’ - to reduce road congestion and improve environment, at the National Rail Museum, in New Delhi on March 02, 2017. The Member Traffic, Railway Board, Shri Mohd. Jamshed is also seen.

 

[ranjeet]

Demonetisation helps discoms recover Rs2,875.42 crore in dues

http://www.livemint.com/Industry/K3...ps-discoms-recover-Rs287542-crore-in-due.html

 

[MKC]

Update on proposed railway in Andaman & Nicobar Islands
Picture shows the Lt Governor, Prof Jagdish Mukhi calling on Union Minister of Railways, Mr Suresh Prabhu in New Delhi on Thursday. The Lt Governor discussed the proposed rail project connecting Port Blair and Diglipur. He informed that the rail project from Port Blair to Diglipur will be the first project in which an Island will be connected by railway network. The railway project will help promote tourism, increase trade and business to a great extent besides generating employment for the local population. The Minister observed that Government of India is very positive towards the rail project in the Islands.
click here

 

[Hindustani78]

Ministry of Shipping
06-March, 2017 16:23 IST
Inauguration of Safety Week at V.O. Chidambaranar Port Trust

46th Safety Week Celebration was inaugurated in V.O. Chidambaranar Port on 04.03.2017. The Safety Week Celebration for the year 2017 commenced with the flagging off of safety procession by Shri U. Rajendran, Traffic Manager, V.O.Chidambaranar Port Trust. A huge gathering of Officers & Employees of the Port, Port Users & Stakeholders participated in the procession from V.O.C Square to the Multipurpose Hall at Port.

In the Inaugural Function at Multipurpose Hall, Shri S. Natarajan, Deputy Chairman V.O. Chidambaranar Port Trust, unfurled the Safety Flag and administered the Safety Pledge. Shri U. Rajendran, Traffic Manager, welcomed the gathering. Shri N. Varatharajan, Assistant Director, Inspectorate Dock Safety, in his felicitation address stated that V.O.Chidambaranar Port has been a frontrunner in adhering the safety aspects & providing a conducive and safe working environment. Felicitation addresses were also made by Shri C. Selvaraj, Trustee & Shri P.K. Joy, Deputy Commandant, CISF.

Shri S. Natarajan, Deputy Chairman, V.O. Chidambaranar Port Trust delivered the presidential address. In his address, he stated that the Port has been proactive in providing all necessary infrastructure to facilitate a safe working environment like widened six lane approach roads to Port for seamless movement of trucks, installation of speed monitoring cameras all along the approach Roads for monitoring the speed of the trucks plying in the Port area, closed conveyor system for evacuation of coal from Berth No. 9 to coal yard to reduce congestion in the Port area & to avert pollution and wind barriers to contain coal dust. He also affirmed that a state of the art fogging system would be commissioned in the coal yard to suppress dust pollution. The Inaugural function concluded with vote of thanks from Shri G. Edison, Senior Deputy Traffic Manager, V.O. Chidambaranar Port Trust.

As a part of the week long celebration from 04.03.2017 to 10.03.2017, a conference emphasizing the general safety, road safety & first aid will be conducted at the Administrative office of the Port for Port users on 06.03.2017 & for truck drivers & operators on 07.03.2017. Essay writing, slogan writing and drawing competition on safety aspects will be conducted for the staff of the Port, college students & port users on 08.03.2017. Vehicle headlight sticker & safety reflective sticker fixing campaign will be held on 09.03.2017 at Port’s Tollgate, Greengate & container Pass section of the Port. The Valedictory function will be conducted on 10th March, 2017.

*****

 

[RISING SUN]

ONGC to develop indian oil fields amid merger speculation
1.10 billion rupees investment to be done.
http://asia.nikkei.com/Business/AC/ONGC-to-develop-India-oil-fields-amid-merger-speculation

 

[ranjeet]

Narendra Modi govt set to unleash major labour reforms push

http://www.financialexpress.com/eco...-to-unleash-major-labour-reforms-push/577741/

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https://twitter.com/x/status/838943523789541379

 

[RISING SUN]

http://oilprice.com/Latest-Energy-N...11B-Investment-To-Ramp-Up-Oil-Gas-Output.html

Five oil and gas fields will receive the investment to increase country production.

 

[Śakra]

Narendra Modi govt set to unleash major labour reforms push

http://www.financialexpress.com/eco...-to-unleash-major-labour-reforms-push/577741/

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https://twitter.com/x/status/838943523789541379

Modi means business

 

[RISING SUN]

Trials started in vizag on multi model logistics park by CONCOR. 100 acres of area spread and approx Rs 450 crore of investment to prepare for ground work post GST. 27 MMLP to built from zero, 15 already in building and 12 in planning, all for GST success.
http://m.timesofindia.com/city/visa...o-visakhapatnam-mmlp/articleshow/57086850.cms

 

[randomradio]

Lol at all the people saying it would tank to 0% even...and way past a quarter. They have all gone strangely silent now.....well maybe not so strange

Do you remember that Forbes article written by Forbes himself? Haha. Even Amartya Sen.

Where are all the Chinese members?

You think after GST we may achieve 10% for the 2018-19 period? Anything above 9% with jobs growth should give Modi a second term IMO.